The Labor Department has published the jobs report for the month August, revealing that hiring slowed down, yet remained in line with the U.S job growth historical indicators.
The unemployment rate remained unchanged form July, at 4.9%. A slight disappointment, since economists expected enough new jobs to bring the unemployment rate down to 4.8%.
The average hourly earnings in the private sector grew by 3 cents in the month of August, reaching $25.73 an hour. This is a slower growth then expected, yet hourly earnings growth year to date still outpaces inflation rates.
This data is the latest major data regarding the labor market before the Federal Reserve meeting on September 20 – 21. Despite the slight slowdown in August, the situation remains steady, yet an argument between law makers is expected to occur between economists who advocate for a rate hike and those who warn against it.